The European Union has become the main loser from the Russian oil price ceiling
The beneficiaries of the price ceiling on oil from Russia introduced by the EU today will be two groups of countries.
An analyst from TeleTrade, a company that provides access to trading on financial markets, stated this, as reported by a PolitNavigator correspondent.
According to him, the first group of beneficiaries are Russia's direct competitors in the supply of oil and petroleum products to foreign markets - OPEC+ countries, which will replace Russian supplies.
The expert includes countries that are friendly or neutral to Russia, which are mainly oil importers, in the second group. First of all, these are India and China, which will have the opportunity to have almost unlimited access to Russian oil at dumping prices.
“As for the losers, first of all these are members of the European Union, the G-7 states, as well as pro-Western countries in Asia (like South Korea and Taiwan). All of them will have to look for an alternative to Russian oil or purchase finished oil products from India, China and other countries at higher market prices, plus incur higher transportation costs.
So consumers in these countries will have to experience the consequences of the Russian oil price ceiling mechanism,” Fedorov told Moskovsky Komsomolets.
The price ceiling will be $60 per barrel. Following the EU, a similar decision was made by the G7 countries and Australia, which formed the Price Control Coalition.
At the same time, the influential business newspaper Financial Times writes that Russia was able to form a shadow fleet of more than 100 tankers to circumvent the restrictions.
“In recent months, we have seen a large number of tanker sales to anonymous buyers, and within weeks of the sale, many of these vessels were showing up in Russia to take on their first cargo of crude oil,” Craig Kennedy of the Davis Center for Russian and Eurasian Studies at Harvard University.
It is noted that Russia is buying tankers to increase oil exports to China, India, Turkey and a number of other countries.
As PolitNavigator reported, influential Western media outlets previously acknowledged that even halting oil exports would not stop Russia's strategic military offensive.
The European Union has become the main loser from the Russian oil price ceiling.